I forgot I had a blog like this!
This was supposed to be my trading blog. I am resurrecting it.
Very many lessons in markets today
So what happened:
I built Sensex straddles. I let them sit so. In my account I had a potential profit on 39k in alternate account a profit of 65k.
In Alternate account I had 30k MTM profit.
So: Sensex opened at 77000 went to 77300 down to 77100. I added straddle. It dipped to 76300 in few mins and came to 77000 an hour later. Then to 76300 and to 77700+. I was sure the 65k was mine. It showed 21k profit at that time 1:40 pm. Then it fell. And fell. Below 76000. Then to 75600 finally closed 75850.
Loss
Primary: -1,40,000
Secondary - 21,000
Lessons:
When profit beckons take it. 30k and 10k in morning were great profits. Missed it. This is policy until we build a good corpus.
When rolling over straddle pieces, sell the next week position before 3 pm. Post that you get killed.
On expiry day if straddle is 1% at 9.25 may be give it a miss
Massive learning!
